Beltone Leasing and Factoring signs EGP 4 bn syndicated leasing term sheet with Al Qalaa Al Hamraa

Beltone Holding subsidiary Beltone Leasing and Factoring has inked a EGP 4 bn syndicated leasing term sheet with Al Qalaa Al Hamraa to fund the construction of Al Ahly Club’s stadium and sports city in Sheikh Zayed, according to a company statement (pdf).

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About the project: The facility — dubbed the “Project of the Century” — is set to be the largest sports and entertainment complex in Egypt, with a 42k-seat stadium, a sports hospital, a sports museum, a university, a specialized sports school, and a hotel.

Want the full story? Check out our coverage of the project when it was first announced last June here.

Remember: Last year Abu Dhabi-based sports management firm and International Holding Company subsidiary Palm Sports was tapped as the operator of the complex.

Beltone Holding’s role doesn't end here: Beltone Investment Banking is acting as the exclusive financial advisor to Al Qalaa Al Hamraa for the project’s development and capital raising.

What they said: “This partnership underscores our commitment to financing transformative projects that drive economic growth and community development. Project of the Century is set to become a landmark in Egypt’s sports infrastructure, redefining the nation’s sports investment landscape. We are proud to support its realization and contribute to a project of this scale and significance,” Deputy Head of NBFIs for Leasing, Factoring, and Consumer Finance at Beltone Leasing and Factoring Amir Ghannam said.